저자: SchwabNetwork진행자Caroline · 외국인
요약 보기
퀄컴은 AI 수혜로 연초 대비 40% 이상 상승했고, TD Cowen이 목표가를 200달러에서 235달러로 올리며 매수 유지. 퀄컴 CEO는 Arm 기반 칩이 5년 내 윈도우 PC 시장 50% 이상을 차지할 것이라 언급했으나, IDC는 2024년 PC 판매가 보합일 것으로 전망. 브로드컴은 Bernstein이 선호 종목으로 꼽으며 목표가 1600달러(약 21% 상승 여지), forward PER 약 28배로 상대적으로 저렴하다고 평가. 한편 MS와 알파벳이 구조조정(MS 약 1000명, 구글 클라우드 100명 이상)을 발표.
다듬은 글
right let's talk um Qualcomm uh let's talk broadcom real quick a couple analyst notes out yesterday we talked a little bit about how qualcomm's trying to stay in the mix for the mobile AI implications what's this analyst saying from TD Callen well Qualcomm of course has been a beneficiary of AI it's up more than 40% year to date and uh one analyst T at TD thinks it will continue to tick higher got a price Target hike raising the price Target on qual come to 235 from 200 kept a buy rating on shares so that was about 14% higher than yesterday's closing price just taking a look Qualcomm Shar is actually down about 610 of a percent today TD counten actually met with management to delve into the company's strategy of mobile content gains also to talk about the PC opportunity given that AI is a catalyst there and also to talk about continued momentum in terms of the automotive space obviously came out of those conversations more upbeat given this price Target hike uh 235 is one of the highest on the street not the highest though I was taking a look BFA is at 245 and Rosen blaton Benchmark are both at 240 but one of the highest there uh I will note though when it comes to Qualcomm it is trading above its median price Target uh the refini of workspace has that at 190 Qualcomm share is at 204 right now 20453 despite the fact that 52% of analysts have a buy rating on shares so it'll be interesting to see if we see other analysts come out and uh kind of Notch those price targets higher that we've been seeing them do with a lot of AI names in the hardware space but uh but TD cow and definitely bullish on this name okay qualcomm's uh been a huge winner here definitely uh under discussed under appreciated uh I I don't know I mean I'm I'm I I'm a little bit of a skeptic on this one but um okay I just uh you know it seems like all the immediate Dem man that we've seen has been for data center AI for the giant machines I get that there's going to be more consumer product coming but when I think Qualcomm I do think about the ultimate user of the mobile devices in the consumer product we just haven't seen a lot of that so it seems like a big big um Outlook story a big prognostication expectations game and Qualcomm is basically saying that these chips are going to like um make laptops useless basically uh I thought that was kind of an interesting commentary too yeah you know at the computex conference they were talking about obviously their Snap Dragon trips chips uh use Arm designs they were talking about that Arm based processors will take more than 50% of the market for windows-based PCs within the next 5 years I do think it's important to note though uh this Analyst at TD count was talking about the the um PC demand given the uh AI as a catalyst kind of uh demand factor and it's interesting because there's a research from IDC that came out and said that they expect PC sales will be essentially flat in 2024 and that's despite companies like Qualcomm Intel AMD creating these or launching these AI capable PC components and then also companies like Dell and Lenovo and and um Acer and HP coming out with the AI laptops in the second half of this year really ramping those up and despite all of that uh sales are expected to be flat yeah actually I misspoke sorry what he was saying that qualcom CEO is that uh the AI uh software is going to allow the computer to run so uh efficiently that you're like not going to need to charge your computers that you're just going to be able to like carry them like mobile basically so okay all right uh look that all sounds cool that all sounds great let's see them let see him you know like there's a lot of big expectations kind of getting built in here a lot of these companies that uh are on a trailing basis still looking like very average stocks if not subpar I mean Qualcomm you know went through basically all of 2023 with negative revenues negative Revenue growth contraction and then the last two quarters single digits like 1% you know so this is all a a game of like this fulcrum this giant shift this giant pivot and uh I mean okay I guess we just trust the Nar if it waited to get bullish until after started to see them you would say these analysts are being reactive not proactive so fair enough well the other thing too Qualcomm has going forward is it's just way way cheaper still so that I could definitely get that I could definitely get that I can sympathize with because it's half of what you're pay for AMD or Nvidia which traded 40 times roughly qualcomm's like 20 times forward so uh all right broadcom real quick um what's going on with that one Caroline another value play at least according to Bernstein pointing out that uh broadcom shares traded about 28 times forward earnings so cheap compared to some of the others that you mentioned as well broadcom's up about 18% year to date up about 64% over the past year in this Bernstein analy thinks that it will continue to run higher as well calling broadcom one of his best ideas touting its best-in-class financial and operational performance uh the Analyst at Bernstein has an outperform rating on shares and a $1600 price Target that implies about 21% upside from current levels the analyst says despite this year's gains the company's valuation remains compelling in line with history versus industry for a story that has only gotten better with age on top of that it remains among one of the cheapest of all the AI place semis with a better narrative than many of its peers so broadcom shares under a little bit of pressure today down about 4/10 of a perc uh this is another one uh 83% of analysts have a buy rating on Shar so this analyst certainly not in the minority he's in the majority but I will say in terms of that price Target the highest I saw on the street1 1850 the median 1555 so uh it's currently trading around 1315 all right uh by the way for the all the talk about all this great stuff happening Microsoft and alphabet laid people off uh uh in news and reports overnight so but I guess the Microsoft was like part of their mixed reality they're like uh VR division or something yeah the the mixed reality division although they said they'll continue selling the Holo lens the hollow lens however you say it uh which is their mixed reality headset they'll continue supporting uh any customers in that unit as well but they are expected to lay off around a thousand employees including working in the mixed reality business and then in terms of alphabet they're laying off at least 100 employees in the Google Cloud unit roles in Consulting go to market strategy operations and Engineering that's according to CNBC saying the cuts were incremental across the organization to to better um align with its goto market organization so uh taking a look I'm not seeing a huge uh impact on the stock today in terms of Google only down about 4/10 of a percent Microsoft down about 610 of 1% but you know it's obviously a big week for jobs data getting jolts getting ADP weekly jobs claims and then of course the big monthly jobs report on Friday but here's some some other data points in terms of headlines out of some of these companies that are cutting and uh the strongest company so if they're making lay offs me okay all right uh well basically all the big Tech compies gr growing very fast too true and it seems like maybe they need to divert resources into this new stuff maybe arguably like the mixed reality and the headsets and whatever all right uh thanks Caroline e
Comments 0